Instituto Cervantes Usa Inc
- Assets
- $10.9m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 64
- Location
- New York, NY
- Founding
- 03/1995
- Data as of
- 12/2023
- EIN
- 13-3800869
Organization Overview
Instituto Cervantes Usa Inc is located in New York, NY. The organization was established in 1995. According to its NTEE Classification (A99) the organization is classified as: Arts, Culture & Humanities N.E.C., under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2023, Instituto Cervantes USA Inc employed 64 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Instituto Cervantes USA Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Instituto Cervantes USA Inc generated $1.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (4.2%) each year. All expenses for the organization totaled $2.3m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (1.3%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTING SPANISH CULTURE
Describe the Organization's Program Activity:
Part 3 - Line 4a
ORGANIZED CENTER FOR TEACHING & STUDY.,SPONSORED & CONDUCTED CULTURAL ACTIVITIES.PUBLISHED & DISTRIBUTED TEACHING MATERIALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Bueno Director | Officer | 40 | $0 |
Ana Ramirez Secretary | Officer | 0 | $0 |
Maria Claudia Montehermoso Treasurer | Officer | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,553,801 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $19,694 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,573,495 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $788,435 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $71,644 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,145 |
| Fees for services: Accounting | $82,219 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $47,131 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,423 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $543,279 |
| Insurance | $0 |
| All other expenses | $308,000 |
| Total functional expenses | $2,324,924 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $340,496 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $40,758 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $28,807 |
| Net Land, buildings, and equipment | $10,508,685 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $13,971 |
| Total assets | $10,932,717 |
| Accounts payable and accrued expenses | $56,154 |
| Grants payable | $0 |
| Deferred revenue | $145,038 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $201,192 |
| Net assets without donor restrictions | $10,731,525 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $10,932,717 |